Otelco inc. (OTEL)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income

7,796

9,467

12,115

5,146

7,484

-

-

-

-

-

-

Net income

-

-

-

-

-

5,029

109,144

-126,900

2,197

690

-3,117

Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation

7,344

6,906

7,001

7,137

7,678

8,941

9,650

10,496

11,892

13,837

14,444

Amortization

299

326

376

-

-

-

-

-

-

-

-

Amortization

-

-

-

885

1,200

1,642

2,982

8,781

8,341

9,832

12,040

Long-lived assets impairment - property and equipment

-

-

-

-

-

-

-

2,874

-

-

-

Long-lived assets impairment - intangibles

-

-

-

-

-

-

-

5,748

-

-

-

Goodwill impairment

-

-

-

-

-

-

-

143,654

-

-

-

Amortization of loan costs

452

476

4,823

1,397

880

936

1,071

1,368

1,368

1,361

1,351

Non-cash lease amortization

265

-

-

-

-

-

-

-

-

-

-

Loss on debt prepayment penalty

-

-

-2,303

-

0

0

-

-

-

-

-

Interest rate caplet

-

-

-

-

-

-

-

-

-

-

1,168

Amortization of notes payable premium

-

-

-

-

-

-

-31

-116

-104

92

-82

Change in fair value of derivatives

-

-

-

-

-

-

-

242

2,230

-878

1,354

Provision (benefit) for deferred income taxes

1,308

1,062

-9,393

2,142

1,882

2,692

6,157

-24,924

227

428

-

Excess tax benefit from stock-based compensation

-68

-144

-52

-32

-144

-249

0

-

-

-

-

Provision for deferred income taxes

-

-

-

-

-

-

-

-

-

-

-1,507

Provision for uncollectible accounts receivable

214

553

357

348

442

476

418

620

915

141

920

Stock-based compensation

254

308

308

415

362

643

0

-

-

-

-

Payment in kind interest - subordinated debt

-

-

266

273

0

0

-

-

-

-

-

Changes in operating assets and liabilities
Accounts receivable

196

113

316

4

11

128

-3,442

-

-

-

-

Accounts receivable

-

-

-

-

-

-

-

177

1,590

-427

739

Materials and supplies

1,152

102

516

278

-9

261

-191

64

-173

-152

339

Prepaid expenses and other assets

860

-1,982

189

100

-878

1,486

-44

905

117

69

-200

Income tax receivable

-

-

-

-

-

-

-

-

-

-389

-207

Accounts payable and accrued expenses

1

-37

215

-178

227

-534

334

9,154

-1,423

-1,657

1,094

Advance billings and payments

-73

-203

577

1,428

-

-

-

-

-

-

-

Advance billings and payments

-

-

-

-

-45

-67

-191

142

-117

-111

-400

Other liabilities

-270

-9

-17

-6

-117

-10

-351

222

-2

202

-30

Non-cash reorganization income

-

-

-

-

-

-

114,210

-

-

-

-

Net cash from operating activities

15,450

20,760

17,962

18,637

21,013

18,122

18,650

29,731

19,530

26,411

27,909

Cash flows used in investing activities:
Acquisition and construction of property and equipment

12,440

7,983

8,510

6,879

6,612

6,015

6,229

6,357

10,548

10,225

9,596

Retirement of investment

4

11

1

1

0

1

0

1

2

1

-

Proceeds from sale of property and equipment

-

-

-

-

-

58

0

-

-

-

-

Proceeds (loss) from retirement of investment

-

-

-

-

-

-

-

-

-

1

-1

Wholesale customer acquisition

-

-

-

-

-

-

-

-

-

-

-179

Purchase of Reliable Networks, net of cash acquired

-

-

-

-

-

500

0

-

5,010

-

-

Deferred charges/acquisition

-

-

-

-

-

-

-

-

-

1

6

Net cash used in investing activities

-12,444

-7,994

-8,511

-6,880

-6,612

-6,458

-6,229

-6,358

-15,560

-10,227

-9,783

Cash flows used in financing activities:
Loan origination costs

12

64

2,144

5,242

516

0

1,653

920

95

-

-

Cash dividends paid

-

-

-

-

-

-

-

2,330

-

-

-

Cash dividends paid

-

-

-

-

-

-

-

-

-9,321

-9,225

-8,937

Principal repayment of long-term notes payable

4,350

11,350

98,927

103,052

12,083

16,498

33,368

-

386

-

-

Proceeds from loan refinancing

-

-

87,000

100,300

0

0

-

-

-

-

-

Debt prepayment penalty fees

-

-

2,303

-

0

-

-

-

-

-

-

Interest rate cap

-4

4

-

-

-

-

-

-

-

-

-

CoBank equity account retirement

-

119

164

-

0

-

-

-

-

-

-

Tax withholdings paid on behalf of employees for restricted stock units

192

380

209

109

0

0

-

-

-

-

-

Direct cost of exchange of Class B shares for Class A shares

-

-

-

-

-

-

-

-

-

194

-

Loan origination costs

-

-

-

-

-

-

-

-

-

155

-

Repayment of long-term notes payable

-

-

-

-

-

-

-

-

-

6,114

5,000

Net cash used in financing activities

-4,550

-11,679

-16,419

-8,103

-12,599

-16,498

-35,021

-3,250

-9,802

-15,688

-13,937

Net increase in cash and cash equivalents

-1,544

1,087

-6,968

3,654

1,802

-4,834

-22,600

20,123

-5,832

495

4,188

Supplemental disclosures of cash flow information:
Interest paid

4,834

5,383

9,287

8,364

7,016

-

-

-

-

-

-

Interest paid

-

-

-

-

-

7,924

8,581

14,896

24,131

23,484

23,378

Income taxes paid (refunded)

1,993

-502

1,802

1,923

2,414

1,535

248

77

91

-265

67

Conversion of Class B common stock to Class A common stock

-

-

-

2

0

0

-

-

-

-

-

Loan fees paid via issuance of Class B common stock

-

-

-

-

-

-

2,772

-

-

-

-

Cancellation of Class A common stock

-

-

-

-

-

-

132

-

-

-

-

Issuance of Class A common stock

-

-

1

1

1

0

29

-

-

-

-